TOKY3: quote, dividends and indicators for Grupo Toky

Grupo Toky, whose shares trade on B3 under the ticker TOKY3, operates predominantly in the retail of furniture and home décor accessories in Brazil, with a focus on sales to end consumers. The business is structured as a single operating segment, which means that key business decisions, resource allocation and monitoring of financial performance are conducted in an integrated manner, without formal division by product lines or sales channels. Net operating revenue comes entirely from this retail segment, with activities concentrated in the Brazilian market and no revenue from abroad. In 2025, the company posted net operating revenue of over R$ 1.4 billion, still with a net loss, reflecting a business model that is intensive in logistics, technology and store infrastructure.

Grupo Toky’s main activity is the sale of furniture and home décor items, including furniture, textiles, lighting and household goods, offered in combination within planned environments. This portfolio is available both in physical stores and on digital platforms, with a strong presence in e-commerce. The company follows a one-stop-shop concept, where consumers can find complete solutions to furnish and decorate their homes within a single ecosystem of channels that includes proprietary websites, apps and presence on third-party marketplaces. In addition to direct product sales, the group also acts as an intermediary for complementary services such as technical assistance, assembly and extended warranty, increasing the capture of revenue associated with the usage cycle of the products sold.

Grupo Toky’s operating structure combines third-party products with a line of customized items manufactured according to the company’s specifications. In this line, the company does not carry out production directly, but is responsible for defining inputs, technical specifications and managing manufacturing with partner suppliers. The products are manufactured by third parties and shipped to distribution centers located in São Paulo, Minas Gerais, Santa Catarina and Espírito Santo, where they are received, stored and prepared to supply stores or be shipped directly to the end customer. Transport to stores and consumers is carried out by road, through contracted carriers, supplemented by a proprietary last-mile delivery system called MoblyLog, which integrates the logistics operation and seeks to adapt to the particularities of furniture transport, such as volume, assembly and delivery scheduling.

Grupo Toky’s physical presence consists of a network of dozens of company-owned stores and distribution centers located mainly in the Southeast and South regions. In December 2025, the group operated 63 company-owned stores and 5 distribution centers, with a significant concentration in the Southeast region, which housed most of the units. The physical network is complemented by digital channels, notably the websites www.mobly.com.br, www.tokstok.com.br and www.guldi.com.br, in addition to operations on third-party marketplaces. The company also offers mobile apps such as “Mobly” and “Tok&Stok” in app stores like the App Store and Google Play, seeking to integrate the digital shopping journey and communication with customers. In some categories, Mobly private-label products are sold in partner stores, expanding brand reach without the need to directly operate all sales fronts.

Grupo Toky operates in Brazil’s furniture and home goods market, a sector that, according to specialized consulting firms, moves tens of billions of reais annually and still has relatively low online channel penetration compared with more mature markets such as the United States, the United Kingdom and China. Within this universe, the online segment is a smaller but growing portion, driven by factors such as increased internet access, intensive use of smartphones and demographic changes, including the entry of more connected generations into the consumer market. This market is characterized by high fragmentation, with low concentration among the largest companies and a scarcity of nationally recognized brands compared with other retail sectors, creating a dispersed competitive environment with multiple regional players and various price ranges and positioning.

The competitive dynamics of the sector in which Grupo Toky operates present significant barriers to entry and expansion in the digital channel, mainly due to the logistical complexity of bulky products, the need for a reliable shopping experience and the difficulty of customer acquisition in an environment with multiple marketing channels. The company highlights challenges such as the absence of broadly established brands in the segment, which can reduce initial consumer trust, and the need for efficient management of assortment, communication and channels to reach the target audience. Factors such as delivery capacity, assembly quality, return policy and after-sales service play a central role in competitive differentiation, as they directly affect perceived value in purchases of durable home goods.

Technology plays a central role in Grupo Toky’s business model, with the company developing in-house the main systems, apps and auxiliary services used in its operations. The proprietary software is built using open-source libraries, under licenses aligned with recommendations from foundations specializing in free software, allowing greater control over platform evolution, creation of new features and response to issues independently of external vendors. This approach aims to provide flexibility in adapting the system to the growth of operations, as well as to mitigate risks related to widely known vulnerabilities in mass-market platforms. Payment processing is carried out through integrations with payment institutions regulated by the Central Bank of Brazil, enabling acceptance of credit cards, boletos and PIX, without the company acting as a financial or payment institution.

Grupo Toky’s activities are subject to various Brazilian regulatory frameworks, especially personal data protection and environmental liability rules. Under the General Personal Data Protection Law (LGPD), the company handles a large volume of consumer data in an online environment and implements tools for access management, network security, threat monitoring, leak prevention, consent management and response to data subject requests. The company has appointed a data protection officer (DPO) and created an internal committee dedicated to mapping, classifying and managing the personal data under its responsibility, including potential data protection impact reports. In parallel, it is subject to environmental liability rules in the administrative, civil and criminal spheres, which may impose licensing and damage remediation obligations, as well as penalties in case of non-compliance with regulations, even though its main activity is more associated with distribution and commerce than with direct industrial production.

From a geographic standpoint, Grupo Toky focuses its entire operation on Brazilian territory, with no direct operational presence or revenue generation in other countries. All net operating revenue reported in 2025 was attributed to customers based in Brazil, which makes the company’s performance closely tied to domestic macroeconomic conditions, internal consumption behavior and the specific dynamics of retailing durable home goods. The absence of foreign operations means the company is not subject to foreign regulations that are material to its core business, concentrating its regulatory compliance on Brazilian laws applicable to retail, e-commerce, consumer protection, data protection and the environment.